Monster Beverage Correlations

MNST Stock

USD 55.14 0.31 0.57%

The current 90-days correlation between Monster Beverage Corp and Coca Cola Consolidated is 0.05 (i.e., Significant diversification). The correlation of Monster Beverage is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Monster Beverage Correlation With Market

Modest diversification

The correlation between Monster Beverage Corp and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Monster Beverage Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Monster Beverage Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Monster Stock

0.74	FIZZ	National Beverage Corp	Pair Corr
0.84	COCO	Vita Coco	Pair Corr
0.64	LW	Lamb Weston Holdings Sell-off Trend	Pair Corr

Moving against Monster Stock

0.7	KO	Coca Cola Sell-off Trend	Pair Corr
0.64	CL	Colgate Palmolive Fiscal Year End 24th of January 2025	Pair Corr
0.61	BG	Bunge Limited	Pair Corr
0.56	BRFH	Barfresh Food Group	Pair Corr
0.49	COKE	Coca Cola Consolidated	Pair Corr
0.48	EL	Estee Lauder Companies	Pair Corr
0.42	CCEP	Coca Cola European	Pair Corr
0.39	KDP	Keurig Dr Pepper Sell-off Trend	Pair Corr
0.38	PEP	PepsiCo	Pair Corr
0.38	GV	Visionary Education	Pair Corr
0.37	CELH	Celsius Holdings	Pair Corr
0.33	OTLY	Oatly Group AB	Pair Corr
0.33	DG	Dollar General Earnings Call This Week	Pair Corr
0.56	UL	Unilever PLC ADR	Pair Corr
0.55	EDTK	Skillful Craftsman	Pair Corr
0.52	DLTR	Dollar Tree	Pair Corr
0.52	EDBL	Edible Garden AG	Pair Corr
0.47	EAST	Eastside Distilling	Pair Corr
0.39	WAFU	Wah Fu Education	Pair Corr
0.34	YI	111 Inc Earnings Call Today	Pair Corr
0.32	UG	United Guardian	Pair Corr

Related Correlations Analysis

	MNST	CELH	COKE	KDP	PEP	KOF	CCEP	COCO
MNST		-0.37	-0.49	-0.39	-0.38	-0.28	-0.42	0.84	MNST
CELH	-0.37		0.36	0.71	0.81	0.65	0.46	-0.59	CELH
COKE	-0.49	0.36		0.55	0.4	0.31	0.61	-0.47	COKE
KDP	-0.39	0.71	0.55		0.86	0.86	0.49	-0.71	KDP
PEP	-0.38	0.81	0.4	0.86		0.7	0.5	-0.73	PEP
KOF	-0.28	0.65	0.31	0.86	0.7		0.31	-0.58	KOF
CCEP	-0.42	0.46	0.61	0.49	0.5	0.31		-0.43	CCEP
COCO	0.84	-0.59	-0.47	-0.71	-0.73	-0.58	-0.43		COCO
	MNST	CELH	COKE	KDP	PEP	KOF	CCEP	COCO

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PEP	+ 0.86	KDP
KOF	+ 0.86	KDP
COCO	+ 0.84	MNST
PEP	+ 0.81	CELH
KDP	+ 0.71	CELH
KOF	+ 0.7	PEP

High negative correlations

COCO	- 0.73	PEP
COCO	- 0.71	KDP
COCO	- 0.59	CELH
COCO	- 0.58	KOF
COKE	- 0.49	MNST
COCO	- 0.47	COKE

Risk-Adjusted Indicators

There is a big difference between Monster Stock performing well and Monster Beverage Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Monster Beverage's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MNST	1.08	0.18	0.06	0.55	1.45	(1.19)	2.51	(1.35)	11.37
CELH	2.88	(0.46)	0.00	(0.69)	0.00	0.00	5.82	(5.33)	21.65
COKE	1.28	(0.02)	0.00	0.33	0.00	0.00	3.15	(2.42)	10.22
KDP	0.77	(0.22)	0.00	(0.44)	0.00	0.00	1.46	(2.08)	6.67
PEP	0.69	(0.09)	0.00	(4.86)	0.00	0.00	1.24	(1.38)	6.65
KOF	1.11	(0.13)	0.00	(0.21)	0.00	0.00	2.21	(2.27)	5.30
CCEP	0.82	(0.08)	0.00	(0.09)	0.00	0.00	1.62	(1.75)	4.77
COCO	1.62	0.46	0.19	1.05	1.54	(1.77)	3.72	(3.13)	11.39

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